Internal Audit

Our Internal Auditor services, for the funds under our management, mainly focus on the following responsibilities and duties:

• Assume full responsibility before CySEC;
• Establish, implement and maintain an Internal Audit Plan evaluating the adequacy and effectiveness of the Company’s systems and internal control mechanisms;
• Preparation of the Annual Report of Internal Auditor and submission to the Board of Directors (and to CySEC after BoD approval);
• Ensure that there are effective internal control mechanisms designed to secure compliance with decisions and procedures. Build methodologies for assessing internal control effectiveness and suitability;
• Making recommendations based on the results of work carried out by the Internal Auditor;
• Verify adherence with the recommendations made by the Internal Auditor and being approved by BoD;
• Monitor adherence to internal policies and procedures;
• Monitor adherence to measures decided to be put in place that manage or resolve any identified conflicts of interest;
• Monitor whether employees possess the required professional qualifications, skills, knowledge and expertise to carry out their work;
• Monitor as to whether records of all services provided and transactions undertaken by the company are kept, in particular with respect to clients or potential clients. Such records could be used by the regulatory authorities in future supervisory review evaluation processes or ad-hoc supervisory audits;
• Keep the BoD up-to-date as to the progress of control activities, the results of the Internal Audit and the degree of implementation of the recommendations with regard to improvements in the operations and compliance with relevant legislation;
• Reviewing of the implementation of new corporate policies, plans and procedures;
• Ensuring that the necessary rules and procedures for the proper management of managed funds are in place;
• Liaise with as well as oversee the work of the other control functions;
• Liaise with CySEC and other competent authorities when needed, and ensure a good working relationship with them.